Clarivate Launches AI-Powered Tool For IP Forecasts And Budgets

Clarivate Plc CLVT has launched Forecast, the next-generation artificial intelligence (AI)-driven solution designed to enable intellectual property (IP) professionals to efficiently optimize their IP portfolios and strategy.

Forecast is an IP cost forecasting and budgeting tool that gives IP professionals capabilities for predictive budget forecasting, fully integrated with IPfolio, an IP management system.

This automates and simplifies the process to enable faster budget approvals.

The launch comes amidst an expansion in IP portfolios, with the attendant costs of securing, maintaining and protecting patent and trademark rights in a global marketplace also increasing.

"Our continued investment in AI demonstrates our commitment to bring clarity to the complex and support IP professionals in a rapidly changing environment," said President, Intellectual Property, Clarivate, Gordon Samson.

Price Action: CLVT shares closed higher by 0.68% at $7.38 on Tuesday.